Food prices expected to rise

RIGA - Food prices continued to rise in March, with prices for some products increasing as much as 24 percent from February, Agricultural Market Promotion Center head Inguna Gulbe said, reports Nozare.lv. According to the Agricultural Market Promotion Center’s data, this past March prices increased the most for tangerines, by 24 percent, from 1.02 lats (1.46 euros) to 1.27 lats per kilogram, Lipton Yellow Label tea (10 percent, from 0.95 lats to 1.05 lats per pack), as well as beets (8 percent), oranges (6 percent), rice (5 percent).

However, prices decreased for grapes (25 percent), plums (11 percent), imported cucumbers (10 percent), radishes (9 percent), bananas (6 percent).

Compared to March 2010, the steepest increase was registered for cabbage prices - 195 percent; potatoes - 131 percent; buckwheat - 119 percent; onions - 66 percent; beets - 62 percent; Merrild coffee - 42 percent; Janagold apples - 41 percent; milk (3.5 percent fat content) and pears - 40 percent; sour cream - 37 percent; bananas - 29 percent; kefir and orange juice - 25 percent; cheese and carrots - 24 percent; butter - 23 percent.

The biggest price reductions were registered for red paprika (34 percent); cauliflower (31 percent); yellow paprika (16 percent).
Gulbe said that further price increases were expected in several product groups in the near future due to the rising prices of raw materials or imported products.